Where consumers spend and where they try to save
A DebtBusters study provides interesting insights into how South Africans in different income bands prioritise their spending outside of debt repayments.
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Debt crisis deepens: South Africans using up to 75% of income to repay debt
DebtBusters’ Q4 2024 Debt Index reveals a worsening cash flow crunch, with rising reliance on short-term loans and record-high debt service ratios.
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Instead of treating a year-end bonus as disposable income, incorporate it into your financial planning by focusing on debt repayment, savings, or long-term investments such as further education.
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Financial stress frequently appears in the workplace as anxiety, which can develop into depression, increased absenteeism, and substance abuse.
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Grave concern about increase in senior citizens applying for debt counselling
Instead of making provision for retirement, they are servicing debt.
Consumers relying on unsecured loans as inflation and interest rate increases bite
Cash-strapped South Africans spending more on essential items such as food at the expense of insurance products, says DebtBusters.
